Indians have traditionally been one of the largest sources of gold jewelry demand.

Now that's changing, both due to high gold prices and a cultural shift away from the heavy gold chains of the past.

Increasingly, it appears women now opt for workmanship over weight when choosing their jewelry made from gold -- and increasingly diamonds.

DNA: There is increasing demand for diamond jewellery since the last three years, says S Sanathana Pai, managing director of 135-year-old A Geeri Pai Jewellers at the nearby Broadway, a well known firm in Kerala, which showcases gold and diamond jewels.

"Working women and IT professionals are not into heavy gold ornaments, which can be mostly worn only during weddings and cannot be used regularly," he told PTI.

However, even now, there are regular sales for traditional jewellery like 'Palakka' and 'Nagapada', he said.

Kerala women used to wear heavy gold ornaments, but demand for 10 to 15 sovereign gold necklaces has come down, and women now prefer light-weight jewellery in gold and diamonds, he said.

According to PP Sunny, CEO Sunny Diamonds, gold jewellery sales have gone down by 10-30% throughout the state, with interest in diamonds picking up from Kozhikode to Thiruvananthapuram.

One wonders if Indian gold demand will ever be what it once was, and what gold price would be required for this to happen if it ever does.